T. Rowe Price New York Tax Free Bond Fund (PRNYX)

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T. Rowe Price New York Tax Free Bond Fund (PRNYX) is up 2.7% since the beginning of the year. PRNYX is currently trading at $11 per share. Investors who bought $1,000 worth of PRNYX shares 5 years ago would now be looking at an investment worth $1,074.

T. Rowe Price New York Tax Free Bond Fund (PRNYX) has returned 2.66% so far this year and 9.84% over the past 12 months. Over the last ten years, PRNYX has returned 2.24% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 2, 1987, PRNYX's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, an investment would double in approximately 16.1 years.

Historically, 65% of months were positive and 35% were negative. The best month was Nov 2023 with a return of +7.3%, while the worst month was Apr 1987 at -9.1%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.

On a daily basis, PRNYX closed higher 38% of trading days. The best single day was Oct 22, 1987 with a return of +3.9%, while the worst single day was Apr 14, 1987 at -4.8%.

T. Rowe Price New York Tax Free Bond Fund has an annualized alpha of 4.33%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 02, 1987.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (16.15%) than losses (3.98%) - typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PRNYX has an expense ratio of 0.53%, placing it in the medium range.

PRNYX ranks 84 for risk / return — in the top 84% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

T. Rowe Price New York Tax Free Bond Fund provided a 4.74% dividend yield over the last twelve months, with an annual payout of $0.51 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for T. Rowe Price New York Tax Free Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the T. Rowe Price New York Tax Free Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the T. Rowe Price New York Tax Free Bond Fund was 19.17%, occurring on Oct 16, 1987. Recovery took 791 trading sessions.

The chart below shows the rolling one-month volatility.